China's Central Bank to Halt Aid
To Banks With Bad-Debt Burdens

BEIJING -- The head of China's central bank said it won't provide additional financial assistance to help reduce the bad-debt burdens of the country's state-owned commercial banks.

Banks should rely on their own resources to cut bad loans in the future, said Zhou Xiaochuan, governor of the People's Bank of China, on the sidelines of a news conference to mark the launch of state-owned China Construction Bank's new stockholding company....